Weekly jobless claims rose less than expected last week, but remained above pre-pandemic levels, as the U.S. economy tried to shake off impacts from Covid-19 and employers waited to see if President Joe Biden’s $1.9 trillion stimulus would become law. The Labor Department on Thursday reported that first-time filings for unemployment insurance in the week
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EUR/USD is probing the upper 1.1900s as the US dollar comes under pressure. A dovish ECB meeting failed to deal any lasting damage to the euro. EUR/USD is currently probing fresh highs for the session in the 1.1980s, which incidentally are also weekly highs, with the pair having not struggled too much to break above
Yields are mixed but off highs The 10 year auction had a 1 bp tail but the other numbers were not all that bad. As a result, yields moved lower. The 10 year yield is down to 1.519%, down -0.7 bps on the day. The low reached 1.5039%, while the high reached 1.5647%. The 2
The daily case count is the highest since 23 January This reaffirms that the virus situation in Germany has reached a peak in terms of improvement in the past few weeks, as total active cases rise slightly to ~123,100. The 7-day incidence rate also creeps higher to 69.1 and that is a key figure to
March 11: Gold prices inched down after hitting a more than one-week peak on Thursday, as elevated U.S. Treasury yields continued to remain a headwind for the precious metal. FUNDAMENTALS * Spot gold was down 0.1% to $1,725.17 per ounce by 0043 GMT, after hitting its highest since March 3 at $1,727.65 earlier in the
As widely anticipated, the BOC left all monetary policy measures unchanged. While being more upbeat about the economic developments, the members noted that the policy rate will stay unchanged as least until inflation target of 2% is “sustainably” achieved. Meanwhile, they hinted of adjusting the size of asset purchases as the economy continues to improve.
In opinion of FX Strategists at UOB Group, EUR/USD is seen under pressure while below the 1.1980 level in the next weeks. Key Quotes 24-hour view: “Yesterday, we were of the view that the rebound in EUR ‘has room to extend but any advance is likely limited to a test of 1.1940’. While EUR advanced
Within the last hour, Bitcoin (BTC) price surged to $57,100, a level not seen since Feb. 20 when BTC price made a new all-time high at $58,352. The bullish breakout signals that investor sentiment has shifted back in favor of bulls and it increases the likelihood that BTC will attempt a run at the $60,000
This is the video update for Wednesday, March 12, 2008 http://www.babypips.com
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Yield moves toward the low for the day at 1.5177% The U.S. Treasury will auction off $38 billion of 10 year notes at 1 PM ET. Ahead of that auction, the 10 year yield has recently moved back down into negative territory for the day. It currently trades at 1.523%, down -0.3 basis points. The low
The old high was $347.51 The record close in shares of GameStop was $347.51 last month and today after touching $348.50, it’s absolutely cratered down to $172. That was an obvious target in an extraordinary market. It’s been halted a few times on the way down. What an utterly insane market. Invest in yourself. See
Copper prices will surge to an all-time high over the next 12 months as a result of strong demand from China’s clean energy drive and years of under-investment in global mine supply, the chairman of Chinese metals trader Maike Group said on Wednesday. Benchmark prices for copper, widely used in power and construction, hit a
The markets are rather quiet so far today with slow news flow. Major currency pairs and crosses are stuck inside yesterday’s range, in consolidative trading. Other markets are also mixed, with some hope for DOW to hit new records, but other indices are weak. US consumer inflation data provides no special inspiration to traders. Focuses
AUD/USD lost its traction after climbing to 0.7750 area. US Dollar Index posts small daily gains around 92.00. Investors await 10-year US note auction at 1800 GMT. The AUD/USD pair advanced to a daily high of 0.7746 in the early trading hours of the American session but struggled to preserve its bullish momentum. With the
According to a March 10 tweet by Bitcoin (BTC) podcaster Peter McCormack, at least six crypto-related accounts have been recently suspended by Twitter. The listed accounts include some of the most prominent crypto figures on Twitter with over 300,000 subscribers like Bitcoin on-chain analyst Willy Woo and BTC stock-to-flow model creator PlanB, as well as
Some selling into the close. The US stocks are closing higher on the day with the Nasdaq leading the move higher. The Dow, which has been the leader in the short term, has closed higher but lagged today. Nasdaq has the best November. Closes 8% below record high Dow closes 1% from all time high
The virus situation in Germany is holding thereabouts as of late Total active cases ease slightly to ~117,400 and that keeps with the trend since the end of February for the most part. At least the number of daily deaths is seen on the lower side for a typical weekday count, with total deaths rising